Richard Wesselt (CRD#: 2195569) is a currently registered broker with Fortune Financial Services (CRD#: 42150) of Collegeville, PA, employed since 2017. His previous employers include The O.N. Equity Sales Company (CRD#:2936), also of Collegeville, Sterne Agee Financial Services, Inc. (CRD#:18456) of Jeffersonville, PA, and American Investment Services, Inc. (CRD#:21111, expelled by FINRA on 2/13/2003) of Oklahoma City, OK.
Wesselt has a total of fifteen disclosures on his FINRA record dating back to 1997, and all but the first are customer disputes. (His first disclosure was an employment separation.) The five most recent customer disputes were filed between 6/19/2018 and 4/3/2019, and are currently listed as “pending.” All five contain allegations of unsuitable investment recommendations, misrepresentation errors and omissions, and deceptive/unfair trade practices. The total requested dollar amount of these disputes is $2,020,000.00.
Previously settled customer disputes with Wesselt dating back to 2008 contain similar allegations of misrepresentation, unsuitable recommendations, and violation of fiduciary duty. Clients requested a total of $411,445.94 in damages, and the claims were settled for $139,384.14. Wesselt denies the allegations, and in some, the cases were settled to avoid litigation and legal expenses, and to “end controversy.”
Three remaining customer disputes were denied without settlement.
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